Lagos, Nigeria. 06 October 2023 – Afrinvest (West Africa) Limited (“Afrinvest”), a leading investment management holding company acting through its’ wholly-owned subsidiary, Afrinvest Securities Limited (“ASL”), a broker-dealer licensed by the Securities and Exchange Commission (SEC) and authorised by NGX as a dealing member, in collaboration with the Nigerian Exchange Group (NGX) has announced a strategic partnership with SecondSTAX that will investors in Nigeria invest in securities listed on the Nairobi Securities Exchange (NSE) and the Ghana Stock Exchange (GSE). 

This partnership, which brings together Afrinvest’s wealth of experience as a leading capital market operator and SecondSTAX’s innovative technology platform, will grant investors access to multiple African financial markets, beginning with Ghana and Kenya. Access to the service will initially be restricted to Qualified Institutional Investors who are able to place a minimum trade orders of N10,000,000 (Ten million Naira only) through ASL. 

Speaking about the partnership, Ike Chioke, Group Managing Director of Afrinvest, said “As a company, we continue to innovate to increase the range of investment opportunities available to our clients. With SecondSTAX’s technology, our Nigerian stockbroking clients can now safely access investible securities across other capital markets in Africa.” 

“We are delighted to support the NGX in its strategy of deepening Nigeria’s capital markets through this partnership, as the SecondSTAX platform also allows investors in Kenya and Ghana trading access to securities listed on the NGX in their local currencies. This will increase capital inflow into Nigeria’s capital markets,” Chioke added. 

Temi Popoola, CEO, Nigerian Exchange Limited, commends SecondSTAX for its visionary solution to drive institutional investments across Africa. “This closely aligns with our ongoing efforts to foster innovation and growth in our market through initiatives such as the African Exchanges Linkage Project, which aims to integrate capital markets in the continent; and our partnership with Afreximbank’s Pan African Payments Settlement System (PAPPS) to facilitate seamless cross-border transactions within the African capital markets.

Eugene Tawiah, CEO and co-founder of SecondSTAX, said “Our aim is to integrate all the capital markets across Africa to enable more seamless investment flows and this partnership with Nigerian Exchange Limited represents a major milestone on our journey. Nigeria’s capital markets are full of lucrative opportunities that have until now been out of reach to institutional investors outside the country. At the same time, Nigeria’s institutional investors have largely found it challenging to invest into other capital markets across the continent. This partnership addresses both problems and we are excited to see how investors take advantage of the opportunities that abound across the continent.”

About Afrinvest 

Afrinvest (West Africa) Limited is an investment management holding company active in six principal areas: investment banking, securities trading, asset management, trust services, consultancy, and technology.